Burnham urges Poundland owner to pursue rescue deal

Andy Burnham has urged Poundland executives and its owner, Gordon Brothers, to meet government ministers and pursue a rescue that preserves jobs and stores, as the retailer seeks a buyer after filing a notice of intention to appoint administrators. Burnham, speaking to reporters in Antigua during the Commonwealth Heads of Government meeting, said many Poundland outlets were viable and important to their communities. He called on the company to work with Business Secretary Jonathan Reynolds on a practical solution. His remarks were an appeal, not confirmation that a rescue deal had been agreed. Poundland filed the notice on October 29. The filing began a ten-working-day period to seek a rescue deal but did not itself place the retailer into administration. The chain operates more than 600 stores in the UK and Ireland and employs about 12,000 people. Reports that roughly 11,000 workers face risk are estimates, not confirmed job losses. Poundland has said it could not identify an acceptable offer for the entire business, although several retailers had made formal offers that together covered a significant part of it. The government said it wants an outcome that protects as many...